The Indonesian government has brought forward its ban on ore exports, initially to be implemented in 2022 but then advanced to January 2020, and imposed the prohibition with immediate effect on Monday October 28.
Exports of raw ore from Indonesia will cease immediately, with any material due to leave the country to be bought by domestic smelters at an internally agreed price, investment agency chief Bahlil Lahadahlia said on the same day.The previous announcement concerning the ore ban, which brought the start date to January next year, was made on August 30 and precipitated an 8% price increase in the London Metal Exchange three-month nickel price. This went on to hit $18,850 per tonne, a five-year high, on September 2.But...